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Heartland Payment Systems Offers Pointers on Outsourcing Payroll
Jan 18, 2011 (Close-Up Media via COMTEX) --
Heartland Payment Systems, a payments processor and a provider of payroll solutions, announced that it offers tips on outsourcing payroll.
According to a release, outsourcing payroll is a smart decision for business owners looking to relieve themselves of the time- and labor-intensive complexities of processing payroll - and the beginning of the year is an ideal time to make the change. In fact, more than half of small businesses decide to outsource their payroll each year starting in January when year-end calculations and reporting are complete.
To help a business get started "shopping" for a processor, Heartland Payment Systems noted that it offers these tips:
1. Determine your business needs. Consult your payroll manager, human resources department, accounting personnel and IT staff to understand the functionalities all disciplines need.
2. Evaluate the features and benefits. Meet with several payroll service providers to determine how they work. Do not pick a processor based on price alone; instead be sure they can provide all the services your business needs. For example, your business might need help with 401(k) or worker's compensation, so be sure the provider can handle those services as well as basic payroll.
3. Do your homework. Ask fellow business owners, chamber of commerce or trade association members if they use a payroll processor. Find out what services they receive and if their provider meets their needs. What are their frustrations?
4. Compare costs. Many processors nickel and dime their customers by charging for items such as additions or deletions of employees, while others offer fixed rates for the length of the contract without incremental fees.
5. Look for a payroll service provider that guarantees confidentiality and information security. There are a variety of payroll submission methods - such as by phone, fax, email and over the internet - and you should be comfortable with how sensitive payroll data is transmitted. Choose a payroll service provider that protects your employees' data.
6. Check if the payroll service provider can assume tax filing responsibilities. A payroll service provider should prepare quarterly and annual employee tax filing and assume liability for accurate and timely submission.
7. Be sure the payroll products and services are user-friendly. In addition to making sure the program is easy to use, investigate what type of support is available - such as a help desk and professionals who can assist with program troubleshooting.
"Payroll planning, tax reporting, year-end calculations and many other tasks associated with payroll can be complicated and time-consuming, especially for small businesses. Although outsourcing payroll takes the burden off the business owner, it is important to recognize that not all payroll processors are created equal," said Mark Strippy, Heartland's executive director of payroll services. "All businesses need to be diligent in selecting their processors to ensure they get the best payroll bang for their buck."
More Information:
HeartlandPaymentSystems.com
MerchantBillOfRights.org
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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